Merger of Paymentech.... Epoch?

[Nickatilynx]

FIRST DATA, CHASE AGREE TO INTEGRATE MERCHANT ACQUIRING BUSINESSES: First Data Corp. and JP Morgan Chase & Co. announced late this afternoon they will integrate their companies' jointly owned Chase Merchant Services and Paymentech merchant acquiring businesses. The new firm will operate under the name Chase Paymentech Solutions LLC, with Chase owning 51% and First Data 49%. Michael P. Duffy, Paymentech's president and CEO, will lead the combined firm. Chase Paymentech has entered into a five-year processing deal with First Data Merchant Services. The new firm says it will process about 13.1 billion transactions worth over $500 billion in annual bank card volume in the U.S. and Canada. As part of the deal, Chase will continue to use First Data's Star network to process a "component" of Chase's business.


This might not be good for adult processing....

[Bhelliom]

K stupid question... which one is epoch?

[DrGuile]

Neither.

Let's see if I get this right: Payment Tech is Epoch's aquiring bank, and first data is the bank that had everyone before, and stopped processing for adult...


doesnt sound too good indeed if Im right...... which I usually arent...

[Nickatilynx]

Originally Posted by DrGuile

Neither.

Let's see if I get this right: Payment Tech is Epoch's aquiring bank, and first data is the bank that had everyone before, and stopped processing for adult...


doesnt sound too good indeed if Im right...... which I usually arent...

that was my take too.

[Dravyk]

Commisioner Gordon, please switch on the Rand searchlight!

[Nickatilynx]

First Data, Chase Agree to Integrate Chase Merchant Services, Paymentech05.10.2005 21:15:00
Chase Paymentech Solutions, LLC Delivers Greater Processing Capabilities Through Expanded Direct Sales, Branch Network; Chase Continues STAR(R) Network Relationship

JPMorgan Chase & Co. (NYSE:JPM) and First Data Corp. (NYSE:FDC)announced today that they have completed the agreement to integratethe companies' jointly owned Chase Merchant Services and Paymentechmerchant businesses, to be operated under the name of Chase PaymentechSolutions, LLC. The joint venture will be owned in the aggregate -- 51percent by Chase and 49 percent by First Data. Oversight will beprovided through a board on which the owners will be equallyrepresented.

Chase Paymentech Solutions will be directed by a combinedexecutive team led by Michael P. Duffy, Paymentech's current presidentand chief executive officer. Duffy brings two decades of paymentsindustry experience to this role.

Chase Paymentech Solutions will provide merchants with the leadingproducts and processing capabilities of Paymentech, Chase MerchantServices and First Data, combined with extensive employee industryexpertise. Chase Paymentech Solutions brings together the recognizedleadership of Chase Merchant Services in national, travel andentertainment merchant processing with the established expertise ofPaymentech in Internet, catalogue, and recurring billing merchantprocessing.

As part of the realignment, Chase Paymentech Solutions has enteredinto a five-year processing relationship with First Data MerchantServices. Chase Paymentech Solutions will process approximately 13.1billion transactions annually with more than $500 billion in annualbankcard volume in both the United States and Canada.

"Both companies are market leaders and their integration createsan excellent opportunity to provide merchants with the best array ofproducts and services in the industry," said Bill Campbell, chairman,Chase Card Services.

"Today's agreement to integrate the merchant businesses buildsupon a 25-year relationship between Chase and First Data, arelationship that has advanced the payment industry and deliveredinnovation and choice to merchants and consumers," said Charlie Fote,chairman and chief executive officer, First Data Corporation.

"Building on the extraordinary strength of both ventures, ChasePaymentech Solutions will bring the most innovative products and highquality service to our clients," said Duffy.

Also announced today, Chase has agreed to continue to be a memberof First Data's STAR(R) Network (STAR(R)) for a component of its debitbusiness. STAR is an industry leader in delivering PIN-secured debitaccess through 1.7 million ATM and point-of-sale locations coast tocoast.

About Chase Paymentech Solutions

Chase Paymentech Solutions, LLC, headquartered in Dallas, Texas,will be the nation's largest financial transaction processor forbusinesses accepting payments via traditional point of salehospitality, Internet, catalog and recurring billing. The privatelyheld company is an end-to-end processor for merchants of all sizes andindustries and is a result of the 2005 integration of the formerPaymentech and Chase Merchant Services. The integrated companies willprocess approximately 13.1 billion transactions annually with morethan $500 billion in annual bankcard volume in both the United Statesand Canada.

About First Data

First Data Corp. (NYSE:FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.1 million merchant locations, 1,700 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, smart and stored-value card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union and its subsidiary,Orlandi Valuta, together make up one of the world's largest moneytransfer networks with approximately 238,000 Agent locations in morethan 200 countries and territories. The company's STAR Network offersPIN-secured debit acceptance at 1.7 million ATM and retail locations.For more information, visit www.firstdata.com. About JPMorgan Chase JPMorgan Chase & Co. (NYSE:JPM) is a leading global financialservices firm with assets of $1.2 trillion and operations in more than50 countries. The firm is a leader in investment banking, financialservices for consumers and businesses, financial transactionprocessing, asset and wealth management, and private equity. Acomponent of the Dow Jones Industrial Average, JPMorgan Chase & Co.has its corporate headquarters in New York and its U.S. consumer andcommercial banking headquarters in Chicago. Under the JPMorgan, Chaseand Bank One brands, the firm serves millions of consumers in theUnited States and many of the world's most prominent corporate,institutional and government clients. Information about the firm isavailable at www.jpmorganchase.com.

[TheEnforcer]

Hmmm.. ... if that take is correct then we could see a MAJOR shake up.

[Bhelliom]

Ok seriously... for those of us that haven't a clue what's going on.... and have no real background information on the subject...

anyone wanna provide a coles notes of why this is a bad thing?

[TheEnforcer]

Originally Posted by Bhelliom

Ok seriously... for those of us that haven't a clue what's going on.... and have no real background information on the subject...

anyone wanna provide a coles notes of why this is a bad thing?

Basically they are saying that the possibility exists that a company that once told the adult industry to fuck off before might be in position to do so again.

[Nickatilynx]

It looks like Epochs acquiring bank have been merged with a company that is notorious for being "clean"

I was explaining in ICQ that there are groups of companies that run "clean".

And also groups of Investment funds that cater to the religious groups that will not invest in Corps with an interest in adult , booze etc...

I might be wrong though...

[PornoDoggy]

Originally Posted by Nickatilynx

It looks like Epochs acquiring bank have been merged with a company that is notorious for being "clean"

I was explaining in ICQ that there are groups of companies that run "clean".

And also groups of Investment funds that cater to the religious groups that will not invest in Corps with an interest in adult , booze etc...

I might be wrong though...

I was on a road trip earlier this summer through the hinterlands, and caught a commercial on a Christian radio station for a "Christian Credit Card Processing Company" that guaranteed they would not perform transactions that were against "The Word."

[MorganGrayson]

Originally Posted by PornoDoggy

I was on a road trip earlier this summer through the hinterlands, and caught a commercial on a Christian radio station for a "Christian Credit Card Processing Company" that guaranteed they would not perform transactions that were against "The Word."

Hmmm...how many credit card transactions are mentioned in "The Word"?

[PornoDoggy]

Originally Posted by MorganGrayson

Hmmm...how many credit card transactions are mentioned in "The Word"?

I dunno ... but I had this mental image of the "Proud to be served by the 'Worship Jezuz' Credit Card Network" on the front door of Gus's Guns, Gas and Grits ...

[Bhelliom]

ok that makes much more sense when its translated.... thank you

[TheEnforcer]

Whoops.. Nick replied ahead of me LOL

[Nickatilynx]

Originally Posted by TheEnforcer

Whoops.. Nick replied ahead of me LOL

Yours was more succinct lol

[TheEnforcer]

Originally Posted by Nickatilynx

Yours was more succinct lol

LOL

[DollarManSteve]

Would they not just sell the epoch unit if they wanted everything to be 'clean'? Also, how much of epoch's business is non-adult?

[DrGuile]

Originally Posted by DollarManSteve

Would they not just sell the epoch unit if they wanted everything to be 'clean'? Also, how much of epoch's business is non-adult?

They dont own it, Epoch simply uses their services.

If they stop offering the services to Epoch, two things can happen

1) They find another aquiring bank like they did when First Data stopped processing for adult

2) Ibill.

[Nickatilynx]

silence from Epoch.

probably not good.

If it was bollocks it would be squashed.

If they had a replacement lined up , it would be being posted.

things that make you go hmmmmm

[Epoch]

Let me start by saying that we at Epoch do not publicly discuss the specifics of our banking relationship. Nevertheless, we talk with our bankers daily, and I can assure you that we have had - and will continue to have - a rock solid banking relationship. There will be no change in Epoch’s banking relationship.

Further, if you research Paymentech’s corporate history you will find that First Data owned 49% of Paymentech before this merger. So, there has been no change in First Data’s ownership interest in Paymentech, either.

Epoch has always focused on making more money for our clients. You see that every day when you are able to take advantage of innovations we have introduced such as Switch and Solo processing. What you can not see every day is the hard work that goes on behind the scenes to ensure that we – and by extension our clients – will continue processing for years to come. Due to that hard work Epoch will remain the premier processor in the adult Internet industry for many years.

Clay
EPOCH!

[Trev]

Originally Posted by Epoch

Let me start by saying that we at Epoch do not publicly discuss the specifics of our banking relationship. Nevertheless, we talk with our bankers daily, and I can assure you that we have had - and will continue to have - a rock solid banking relationship. There will be no change in Epoch’s banking relationship.

Further, if you research Paymentech’s corporate history you will find that First Data owned 49% of Paymentech before this merger. So, there has been no change in First Data’s ownership interest in Paymentech, either.

Epoch has always focused on making more money for our clients. You see that every day when you are able to take advantage of innovations we have introduced such as Switch and Solo processing. What you can not see every day is the hard work that goes on behind the scenes to ensure that we – and by extension our clients – will continue processing for years to come. Due to that hard work Epoch will remain the premier processor in the adult Internet industry for many years.

Clay
EPOCH!

Thank you for your response Clay.

Can I ask what countries are still using Switch?

As it was faded out in the UK over a year ago.

[Dravyk]

Good to hear a response from the source.

Thanks, Clay!

[TheEnforcer]

Originally Posted by Dravyk

Good to hear a response from the source.

Thanks, Clay!